Procurement is one of the key aspects of ecommerce business which business owners must get right to ensure smooth running and hassle-free operations. For startups, setting up a network of reliable suppliers can be a complex task, fraught with numerous challenges.
Procurement can have a direct bearing on profitability – the key objective of any enterprise. Procurement in ecommerce helps improve operational efficiency and also impacts inventory management positively. It helps ecommerce entrepreneurs manage their operating working capital better.
In the early ecommerce days, procurement managers were focused on building a coherent and planned sourcing process. However, procurement process has undergone a sea-change in later years as managers were exposed to sophisticated strategies that allowed them to work across functions, and deliver greater value to the organization. In the past few years, the ecommerce industry has tested and incorporated various procurement models and frameworks with an aim to improve the functionality in this area of business but with varying degrees of success.READ MORE
Procurement can have a direct bearing on profitability – the key objective of any enterprise. Procurement in ecommerce helps improve operational efficiency and also impacts inventory management positively. It helps ecommerce entrepreneurs manage their operating working capital better.
In the early ecommerce days, procurement managers were focused on building a coherent and planned sourcing process. However, procurement process has undergone a sea-change in later years as managers were exposed to sophisticated strategies that allowed them to work across functions, and deliver greater value to the organization. In the past few years, the ecommerce industry has tested and incorporated various procurement models and frameworks with an aim to improve the functionality in this area of business but with varying degrees of success.READ MORE
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